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Our Upcoming Trainings

PSC Accounting & Financial Aspect in Production Sharing Contract (PSC)
PSC Accounting & Financial Aspect in Production Sharing Contract (PSC)

Wed, Feb 21

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Indonesia

PSC Accounting & Financial Aspect in Production Sharing Contract (PSC)

This full 3 days training program provides concise and comprehensive learning modules on the application of POD, WP&B, and AFE in the upstream oil industry and all production-sharing contract aspects in Indonesia.

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Time & Location

3 more dates

Feb 21, 2024, 8:00 AM – Feb 23, 2024, 5:00 PM

Indonesia

About The Training

OVERVIEW

The POD, WP&B, and AFE are some of the control tools of SKKMIGAS in managing the activities of upstream oil and gas operations in Indonesia.

All the staff especially those position that has authority for spending the company fund must have a comprehensive understanding of the POD, WP&B, and AFE. The objective of the POD, WP&B, and AFE as well as the administrative aspect must be understood correctly.

This full 3 days training program provides concise and comprehensive learning modules on the application of POD, WP&B, and AFE in the upstream oil industry and all production-sharing contract aspects in Indonesia. The modules are specially designed for general participation, even for those who do not possess PSC backgrounds. The program is wrapped in such a way as to ensure an easy understanding of the common application of finance and budgeting aspects and risks in the Production Sharing Contract. It includes interactive sessions to explain and discuss the impacts of the industry and future industrial demands.

OBJECTIVE

At the end of the workshop, the participants will be  able to:

  • Understand Production Sharing Contract (PSC)
  • Learn the main PSC fiscal terms and ensure project commercial success
  • Understand the Production Sharing Contract Agreement in brief   and project economics in the Indonesian PSC regime
  • Define costs, cost recovery, and domestic market obligations under PSC Agreement
  • Understand of Plan of Development (POD) in the Development Stage of PSC
  • Understand  Oil and gas Investment Decision, Reserve and  Production
  • Enhance the knowledge and Economic Analysis and practice  of POD, AFE & WP&B within Indonesia PSC framework
  • Develop Proposal for POD, AFE, and WP&B Program and approval
  • Understand the process and report of Closed Out  AFE.

COURSE CONTENT

1. Introduction

  • Indonesia Oil & Gas Current Issues: Local government, cost recovery, ‘new SKKMIGAS’, Oil & Gas scarcity and political impact.
  • New Regulations in the Upstream Oil and Gas Industry in Indonesia
  • The Nature of Oil and Gas Business
  • Indonesia Fiscal Systems and Gross Split Model (Newest Model)

2. Basic Concept of the PSC

  • The PSC Terms and Conditions related to Financial Aspect
  • Basic Concept of the PSC
  • Principles for Understanding the PSC
  • Operational and Economic Aspects
  • Accounting Principles
  • Case Studies

3. PSC Accounting Aspect

  • Acquisition Costs
  • Exploration Costs
  • Development Costs and Production Facilities Costs
  • Production Costs
  • Supporting facilities Costs

4. Operational Aspect Overview

  • Land acquisition aspects
  • Exploration aspects
  • Development aspects
  • Production aspects
  • Financial aspects

5. Planning & Budgeting

  • Grand Plan of the Operations
  • Plan of Development (POD)
  • Work Program and Budget Expenditure (WP&B)
  • Authorization for Expenditure
  • Project Economic
  • Financial Analysis

6. Budgeting & Reporting Manual

  • Budgeting and Reporting Procedures
  • Exploration and Development
  • Production Operation
  • Administration
  • Supporting Information

Practice & Simulation of PSC Accounting & Financial Aspect in Production Sharing Contract (PSC)

Post Test; Lesson Learned and Evaluation

Commitment and Action Plan

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